Ctrip Denies Tencent Buyout Talk Rumors

[1]Shares of Ctrip.com (CTRP[2]) surged almost 5% in Wednesday morning trading after the company shot down rumors that it was in discussions to be acquired[3].

Chatter recently surfaced on Chinese social media websites indicating that Ctrip had entered into discussions with an unnamed China-based Internet company, which was looking to take a controlling stake in the travel service provider.

Ctrip allows users to obtain hotel and flight information on its website to assist with travel planning for trips to China[4]. The company was established in 1999.

In a statement, Ctrip said it was “not currently in discussion was any third party” on a possible acquisition.